Do you think world markets are over reacting to Tarriffs which only amount to 1.8% of US GDP
Total U.S. Goods Imports (2024): Approximately $3.3 trillion
Imports from Specific Countries and Estimated Tariff Costs:
1.China:
•Imports: $462.62 billion
•Tariff Rate: 34%
•Estimated Tariff Cost: $462.62B × 34% = $157.29 billion
2.European Union:
•Imports: $500 billion (estimated based on various sources)
•Tariff Rate: 20%
•Estimated Tariff Cost: $500B × 20% = $100 billion
3.Taiwan:
•Imports: $90 billion (estimated based on various sources)
•Tariff Rate: 32%
•Estimated Tariff Cost: $90B × 32% = $28.8 billion
4.South Korea:
•Imports: $135.46 billion
•Tariff Rate: 25%
•Estimated Tariff Cost: $135.46B × 25% = $33.87 billion
5.India:
•Imports: $87.28 billion
•Tariff Rate: 26%
•Estimated Tariff Cost: $87.28B × 26% = $22.69 billion
6.Vietnam:
•Imports: $142.48 billion
•Tariff Rate: 46%
•Estimated Tariff Cost: $142.48B × 46% = $65.54 billion
7.Cambodia:
•Imports: $13 billion (estimated based on various sources)
•Tariff Rate: 49%
•Estimated Tariff Cost: $13B × 49% = $6.37 billion
Total Estimated Tariff Costs from Specific Countries:
Summing the estimated tariff costs:
$157.29B (China) + $100B (EU) + $28.8B (Taiwan) + $33.87B (South Korea) + $22.69B (India) + $65.54B (Vietnam) + $6.37B (Cambodia) = $414.56 billion
Baseline 10% Tariff on Other Imports:
•Total Imports from Canada and Mexico:
•Canada: $421.21 billion
•Mexico: $480.05 billion
•Total from Canada and Mexico: $421.21B + $480.05B = $901.26 billion
•Imports Subject to Baseline Tariff:
•Total Imports: $3.3 trillion
•Less Imports from Specific Countries and Canada/Mexico:
•$3.3T - ($462.62B + $500B + $90B + $135.46B + $87.28B + $142.48B + $13B + $901.26B) = $967.9 billion
•Estimated Tariff Cost: $967.9B × 10% = $96.79 billion
Total Estimated Tariff Costs:
•From Specific Countries: $414.56 billion
•From Baseline 10% Tariff: $96.79 billion
•Grand Total: $414.56B + $96.79B = $511.35 billion
As a Percentage of U.S. GDP:
•U.S. GDP (2024): $28.3 trillion
•Tariff Costs as Percentage of GDP: ($511.35B / $28.3T) × 100 ≈ 1.81%
Summary:
•Total Estimated Tariff Costs: Approximately $511.35 billion
•As a Percentage of GDP: Approximately 1.81%
These estimates assume that import values remain constant and do not account for potential changes in trade volumes, sourcing decisions, or other economic adjustments that may occur in response to the imposition of tariffs
(20min delay)